Mergers & Acquisitions

Accenture is looking to help retailers move more quickly to digital with its acquisition of Javelin Group, a retail strategy consulting and digital transformation services provider.

San Jose, Calif. – The long-anticipated separation of eBay Inc. and PayPal Inc. into two independent, publicly traded companies is almost here. Now that the split has received official approval from the eBay board of directors, it is expected to occur July 17.

York, Pa. - The Bon-Ton Stores Inc. is selling six stores for $84 million to CPA: 17 – Global, a non-traded real estate investment trust (REIT) of global net lease REIT W.P. Carey Inc. Bon-Ton will lease the stores back.

Proceeds from the transaction will be used to pay one of two of the company’s mortgage loans due in April 2016. Each loan has about $105 million in principal and consists of 12 properties. Bon-Ton is actively pursuing refinancing options for the second loan.

Aliso Viejo, Calif. - Johnny Rockets is expanding into Poland, with its first Polish location expected in Warsaw in early 2016. The casual dining chain has reached a development agreement with HDS Polska Group to build and operate 10 Johnny Rockets restaurants during the next 10 years.
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HDS Polska Group is a subsidiary of publicly-traded company Lagardere Services that operates a network of more than 800 outlets in the Polish market including convenience stores, coffee shops and full service restaurants.

Cincinnati – The Kroger Co. is responding to explosive financial performance with a two-for-one stock split, dividend increase and share buyback program. Kroger has delivered double-digit compound growth in its dividend since it was reinstated in 2006, and expects further growth.

Camp Hill, Pa. – Shareholders of Rite Aid Corp. have voted to tighten the reins of the “golden parachute” payment CEO John Standley will receive if the company is acquired and he loses his job as a result. Standley had previously been slated to receive $42 million in such an event, including $31.6 million in vested equity.

New York -- It’s official: Toys “R” Us is moving out of Times Square and Gap is moving in, but not just with one store.

Gap is planning to open two separate flagships, one for its namesake brand the other for Old Navy, in the space now occupied by Toys “R” Us.

“We're pleased to confirm our plans to construct our newest Gap and Old Navy flagship stores in one of one of the world's most well-known locations – Times Square,” the company said.

Montreal - Metro Inc. intends to purchase up to 450,000 shares of its stock from in a private transaction with an “arm’s-length” third-party seller on or before Sept. 9, 2015. The price will be privately negotiated and a t a discount from the prevailing market price.

These purchases will form part of Metro's 17.1 million share repurchase program announced in September 2010 and renewed in September 2014.